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The three-story, 58,000-sf Pennovation Center, as it’s being called, will be at the heart of Pennovation Works, a blend of offices, labs, and production spaces situated within 23 acres along the Schuykill River and adjacent to the university’s main campus in Philadelphia. Renderings courtesy HWKN

Recent from Building Team

The three-story, 58,000-sf Pennovation Center, as it’s being called, will be at the heart of Pennovation Works, a blend of offices, labs, and production spaces situated within 23 acres along the Schuykill River and adjacent to the university’s main campus in Philadelphia. Renderings courtesy HWKN

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Eight years into the transformation of an elevated section of New York Central Railroad’s West Side Line into a public park, the $273 million project is being hailed as a resounding win for the city. Photo: Beyond My Ken via Wikimedia Commons

Structured Development & Bucksbaum close on new retail site in Chicago

The site is the location of New City, a mixed-use development that will feature 370,000-sf of retail space and 280 residential rental units.

April 10, 2012 |

By BD+C Staff

New City LLC, a joint venture of Chicago-based Structured Development and Maxel New City, LLC, a subsidiary of Bucksbaum Retail Properties, LLC, have closed on the purchase of an 8.2 acre site located at Halsted Street and Clybourn Avenue in Chicago’s North/Clybourn retail district. The site is the location of New City, a mixed-use development that will feature 370,000-sf of retail space and 280 residential rental units.

The closing is the next step in bringing the $230 million New City mixed-use retail and residential development to fruition. New City received approval through the Planned Development process in 2008 and now expects to break ground later this year with an anticipated opening in 2014.

One retailer already secured for the New City development is Milwaukee-based Roundy’s Supermarket’s Inc. Roundy’s will operate an 80,000-sf Mariano’s Fresh Market at New City. BD+C

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Eight years into the transformation of an elevated section of New York Central Railroad’s West Side Line into a public park, the $273 million project is being hailed as a resounding win for the city. Photo: Beyond My Ken via Wikimedia Commons

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The three-story, 58,000-sf Pennovation Center, as it’s being called, will be at the heart of Pennovation Works, a blend of offices, labs, and production spaces situated within 23 acres along the Schuykill River and adjacent to the university’s main campus in Philadelphia. Renderings courtesy HWKN

Eight years into the transformation of an elevated section of New York Central Railroad’s West Side Line into a public park, the $273 million project is being hailed as a resounding win for the city. Photo: Beyond My Ken via Wikimedia Commons